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3 years ago

Which of the following statements is NOT true concerning the Other Dependent Credit

Business

2 answers:

omeli [17]3 years ago

8 0

Answer:

The incorrect statement is letter "B": Residents of Canada meet the definition as a qualifying person.

Explanation:

Credit for Other Dependent is a tax credit taxpayers can claim for every qualifying dependent that is not considered as a Child Tax Credit (17 years or older and elderly parents). The taxpayer can get up to $500 nonrefundable credit for each of those qualifying dependents. Residents of Canada and Mexico do not meet the definition of qualifying dependent.

Inga [223]3 years ago

4 0

Answer:

Explanation:

Residents of Canada meet the definition as a qualifying person.

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On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,2

Svetradugi [14.3K]

Answer:

$31,100

Explanation:

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300.

Therefore the amount of stockholders’ equity as of May 31 of the current year can be derived by the formula : Capital = Assets - Liabilities

<u>Assets</u>

Cash $20,500;

Accounts Receivable, $7,250;

Supplies, $650;

Equipment, $12,000

TOTAL = 40,400

<u>Liabilities</u>

Accounts Payable, $9,300.

Therefore stockholders’ equity = 40,400 - 9,300 = $31,100

7 0

3 years ago

Why do governments exist? (Choose three responses)

Karo-lina-s [1.5K]

B. To provide law and order

3 0

3 years ago

Read 2 more answers

Use "auto.Dta". The study claims that average price of foreign cars is more than average price of domestic cars. Check validity

Lynna [10]

Answer:

Yes.

Explanation:

Yes, the claim of statement ''The study claims that average price of foreign cars is more than average price of domestic cars.'' is correct because the cars which is imported from foreign countries have high duty on them. This duty tax on these cars make them very expensive while on the other hand, the domestic cars have no duty on it so they are lower in price as compared to foreign cars.

5 0

3 years ago

Which component is more likely to be biased if book values are used in the calculation of wacc rather than market values?

Luden [163]

<u>Common Stock</u> is more likely to be biased if book values are used in the calculation of WACC rather than market values.

<h3><u /></h3><h3><u>How Does Common Stock Work?</u></h3>

Security called common stock serves as a proxy for a company's ownership. Common stockholders decide on corporate policies and elect the board of directors. Usually, long-term returns from this type of stock ownership are higher.

Common shareholders, however, do not have any rights to a company's assets in the case of liquidation until all bondholders, preferred shareholders, and other debt holders have been fully compensated. On a company's balance sheet, common stock is listed under stockholders' equity.

<u>How Do I Cast a Ballot Using Common Stock at Corporate Meetings?</u>

Ordinary common shares typically have one vote per share, giving shareholders the ability to cast a ballot on corporate decisions, which are frequently made at a company's annual meeting of shareholders. If you're unable to vote in person, you can choose to have a representative vote on your behalf if you choose (along with others who cannot attend).

Votes may be taken on matters like whether to merge with or purchase a business, elect board members, or consent to dividends or stock splits.

Learn more about the WACC with the help of the given link:

brainly.com/question/14223809

#SPJ4

5 0

2 years ago

Consider three bonds with 5.50% coupon rates, all making annual coupon payments and all selling at face value. The short-term bo

Liono4ka [1.6K]

Answer:

a. $965.74

b. $939.11

Explanation:

In this question we use the Present value formula i.e shown in the attachment below:

1. Given that,

Future value = $1,000

Rate of interest = 6.5%

NPER = 4 years

PMT = $1,000 × 5.5% = $55

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the price would be $965.74

2. Given that,

Future value = $1,000

Rate of interest = 6.5%

NPER = 8 years

PMT = $1,000 × 5.5% = $55

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the price would be $939.11

6 0

3 years ago